Dhaka, Oct. 12 -- Industry leaders have called for the repeal of the Bangladesh Flag Vessel (Protection) Act 2019, terming it outdated and a major barrier to the growth of the country's ocean-going shipping and shipbuilding industries.

Speaking at a seminar titled Investment Potentials in the Ocean-Going Vessel Industry, leading shipping entrepreneur Azam J Chowdhury said the law-introduced to reserve 50 per cent of government cargo for Bangladeshi-flagged vessels-has mainly benefited state-run carriers such as Bangladesh Shipping Corporation (BSC), while private operators owning over 100 vessels have been left out.

"When the law was enacted, BSC had only three ships. Today, private operators handle most of the freight but receive no go...